The Economic Freedom Fighters are holding a press briefing to announce a shake-up in its leadership.
This comes amid reports that Floyd Shivambu, the deputy president of the Economic Freedom Fighters (EFF), resigned from the party.
Other leaders, Carl Niehaus and Busisiwe Mkhwebane took to social media on Thursday to refute claims that they too were leaving the party.
Highly placed sources confirmed to IOL that Shivambu wanted to be released from his duties.
However, according to these sources, Shivambu wants Julius Malema, the leader of the EFF to accept the decision.
It is said that difficulties, including the VBS scandal have shaken the EFF in the wake of the May general elections where the party were unable to grow its support.
An "urgent press conference" with party officials has been scheduled Thursday.
This is where the EFF will announce the “radical leadership changes”, according to the sources.
Economic Freedom Fighters (EFF) leaders Julius Malema and Floyd Shivambu have been in the media spotlight following claims that they financially benefited from the VBS mutual bank scandal.
The two have been accused of corruption, fraud, and money laundering.
This comes after the bank’s chair, Tshifhiwa Matodzi, alleged that Malema and Shivambu were implicated in accepting illegal benefits from the bank.
Matodzi pleaded guilty to 33 charges, including corruption, theft, and money laundering. He stated that the EFF has received monthly donations and a so-called business loan of millions of rands from the bank since 2017 through a front company, Sgameka Projects.
According to Matodzi's allegations, the EFF received the money as a bribe, with Malema and Shivambu in particular benefiting personally.
Many low-income depositors in Limpopo were affected when more than R2 billion was taken from VBS.